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Money, Tobin Effect, and Increasing Returns Author info | Abstract | Publisher info | Download info | Related research | Statistics Basci, Erdem
Erdogan, Ayse M.
Saglam, Ismail
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This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
1904.
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Date of creation: Sep 2006Date of revision:
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Keywords: Increasing returns cash-in-advance constraints overlapping generations Phillips curve. Other versions of this item:
Find related papers by JEL classification: E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Erdem Basai & Ismail Saglam, 2003.
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"Marginal Cost Pricing under Bounded Marginal Returns ,"
Econometrica ,
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Erdogan, Ayse M. & Saglam, Ismail, 2006.
"Monetary policy determines the long-run Phillips curve: An OLG model of production with cash-in-advance constraints ,"
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The Quarterly Journal of Economics ,
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Lucas, Robert E, Jr & Stokey, Nancy L, 1987.
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Other versions: Beato, Paulina, 1982.
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The Quarterly Journal of Economics ,
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Lucas, Robert E, Jr, 1980.
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Economic Inquiry ,
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Lucas, Robert E., 1984.
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